Nigeria’s headline inflation rate has reduced by 23.71% in April 2025. This is a 0.52 percentage point decrease from 24.23% in March.
This is according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS).
Food inflation also eased, falling to 21.26% from 21.79% in March, driven by lower prices of key staples such as maize flour, wheat grain, dried okro, yam flour, soya beans, rice, and various beans.
The CPI rose to 119.52 in April, up 2.18 points from March. Year-on-year, headline inflation was down by 9.99 percentage points from 33.69% in April 2024, due in part to a change in the base year for calculations (now November 2009 = 100).
Similarly, year-on-year food inflation in Nigeria dropped sharply by 19.27 percentage points from 40.53% in April 2024. On a month-on-month basis, food inflation dipped slightly to 2.06% in April from 2.18% in March.
The NBS linked these declines to reductions in the prices of essential food items. While the easing inflation offers relief to consumers, experts emphasise the need for consistent policy efforts to maintain price stability.